("Motive" or the "Group")
The Company announces that on 3 January 2013 it issued, conditional on admission, 125,944,584 Ordinary Shares in the capital of the Company to TCA Global Master Fund LLP ("TCA") to satisfy the £50,000 Investment Banking Services fee in relation to the Loan Agreement and Committed Equity Facility as announced on 2 January 2013.
The Company has issued the shares to TCA at a price of 0.0397 pence per share which, in keeping with the terms of the Loan Agreement and Committed Equity Facility, represents the daily volume weighted average price of the shares on the day immediately preceding their issue, namely 2 January 2013.
Application will be made for the 125,944,584 new ordinary shares to be admitted to trading on AIM. Admission is expected to become effective and dealings are expected to commence on AIM on 11 January 2013. Following the issue of the subscription shares, the Company will have 5,508,680,132 ordinary shares in issue.
Motive Television plc
Michael Pilsworth, Chairman
Leonard M. Fertig, CEO
T: +44 20 7025 8425
Merchant Securities (Nominated Adviser)
Simon Clements / Virginia Bull
T: +44 20 7628 2200
XCAP Securities (Joint Broker)
T: +44 20 7101 7070
Newgate Communications (Financial PR) T: +44 20 7680 6559
T: +44 7769 688 618
Chris Plunkett / Mike Smargiassi
T: +1 212 986 6667
T: +44 7774 860 011
Notes to Editors
Motive Television provides software and services to the global television industry, enabling Television Anytime Anywhere. Motive's patented and proprietary technology platform responds to the heightened viewer demand for watching what they want, when they want, on whatever device they want; and is driven by the mandatory switchover from analogue to digital broadcasting as mandated by the International Telecommunication Union.
Motive Television provides broadcasters and pay television operators with enabling technology that provides opportunities to deliver highly-valued services to viewers that generate additional income and retain existing subscribers, comprising:
Television Anytime. A technology platform that enables digital broadcasters and pay television operators to offer enhanced broadcasting services with or without the need for an Internet connection. These services, include, among others, Video-on-Demand, Catch-Up TV, Virtual Channels, Sneak Preview TV, and Targeted Advertising. Television Anytime is currently in commercial operation in Europe both in digital terrestrial (DTT) and soon in satellite (DTH) environments. Patented in Spain and patent pending in the EU.
Television Anywhere. An advanced multi-screen multi-channel technology that allows a viewer to control and watch all the content received by or recorded in their main home television equipment on any computer, mobile phone, iPad or any other Internet connected device. Television Anywhere is software-based and can be updated via software upgrades on existing STB. US patent pending.
Motive's content division is:
Motive Television Limited, a Dublin-based award-winning independent production company that produces factual programmes for Irish broadcasters. It specializes in live sports production and sports documentaries and also produces factual and entertainment series.
Motive Television was founded in London in 2005 and its shares are quoted on the London Stock Exchange (AIM).